Tom Loeblein, President and CEO of Healthcare Management Consultants and The Dental CFO, dedicates his career to building a strong culture within practices. He shares his insights on this episode of Prosperous Doc®, including why skills aren’t the only thing to look for when hiring.
Creating a positive organizational culture is crucial for the success of a medical or dental practice.
Tom also emphasizes the importance of knowing your practice’s “why,” taking the time to develop core values, and how to conduct a culture assessment.
“What we've discovered over many years is that a practice doesn't achieve the success it needs to [achieve] if the people aren't congruent, they're not motivated, [or] they're not excited about what they're doing,” says Tom.
Creating a positive work environment that motivates and engages employees is crucial to delivering world-class care and providing positive patient experiences — investing in your team’s well-being is an investment in your patients (and your practice).
By implementing Tom’s strategies, practice owners can attract and retain top talent and achieve long-term success.
Name: Thomas (Tom) R. Loeblein, CHBC, CFP®️
What he does: While his official title at The Dental CFO is President and CEO, Tom’s real title is “Visionary.” Tom sets the organization’s vision, creates and maintains the company’s culture, and builds relationships with clients and stakeholders.
In addition to his work with The Dental CFO, Tom serves as President/CEO of Healthcare Management Consultants, Inc. Tom is a Certified Healthcare Business Consultant, a Charter Member of the National Society of Certified Healthcare Business Consultants, a Kolbe Certified Consultant, and a Certified Financial Planner Professional. He is a graduate of the U.S. Naval Academy and a retired Lieutenant Colonel in the U.S. Marine Corps Reserve.
Company: Healthcare Management Consultants | The Dental CFO
Words of wisdom: “We believe that you have to get the right people on the bus. But it's so critical, also, to get the right people in the right seats on the bus.”
On the Money
Top takeaways from this episode
- Your employees have to like working for you. Medical and dental practice owners must create an environment that makes employees enjoy being there. Employees shouldn’t dread going to work, after all, that’s where they spend most of their time.
- It’s not just about your craft. If you’re a dentist, a patient won’t know if the crown you prepared is better or worse than the one of your competitors, but what they will know is how your staff treated them. Essentials like excellent telephone etiquette and overall great customer service are what patients often remember.
- People aren’t always driven by money. One of the elements that drives employees is vision. Your employees have to buy into your vision; they need to know your “why.
[00:32] Don’t discount company culture: Tom discusses the importance of company culture in medical and dental practices and how it impacts their success.
[03:58] Smart v. healthy organizations: An unhealthy culture can lead to turnover and a decline in success. Tom explains the difference between having a smart practice and a healthy practice.
[11:21] Visioning: Shane and Tom discuss the importance of having a vision for your practice and how it can help engage team members and attract top talent.
[14:45] Enabling growth: Putting team members in the right seats and helping them grow professionally keeps them engaged and motivated.
[22:13] The Three Parts of the Mind in Hiring: Tom explains the three parts of the mind that are important to consider when hiring: cognitive, affective, and how the individual goes about working.
[25:54] Know yourself (and your practice): Core values that are unique — and truly represent your organization — make leadership and culture-building easier.
[28:37] Your team needs a good fight: Organizations need to understand the essence of fighting fair. As a medical or dental practice owner with additional partners, you must have the safety and security to bring something up with your partners, even if they don’t like it
[33:22] Learn to fight fair: Tom suggests reading work by Patrick Lencioni to gain insight into how to improve the health of your organization.
[36:33] Special shoutout: Dan Dagenhart founded Tom’s firm, Healthcare Management Consultants, in 1966. When Tom was a young Marine Corps officer looking for his next step, Dan gave him an opportunity and mentored him. The most significant opportunity Tom received from Dan was the opportunity to own the company with incredible partners.
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Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP® at firstname.lastname@example.org or on Twitter.
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